US STOCKS-Shares decline as Wal-Mart's weak forecast drags on retailers

miércoles 14 de octubre de 2015 15:22 GYT
 

* Wal-Mart sinks on weak forecast, drags down Dow

* JPMorgan falls, Bank of America rises after results

* U.S. retail sales barely rise in September

* Dow down 1.0 pct, S&P down 0.6 pct, Nasdaq down 0.4 pct (Updates to late afternoon)

By Caroline Valetkevitch

Oct 14 (Reuters) - U.S. stocks fell in late afternoon trading on Wednesday, as Wal-Mart skidded after issuing a weak forecast, dragging down other big retailers, and as JPMorgan slipped after its results.

They are among the latest disappointments as the U.S. third-quarter earnings season gets under way. S&P 500 earnings are expected to have fallen 4.2 percent in the quarter from a year ago, according to Thomson Reuters data.

Wal-Mart sank 9.7 percent to $60.23, poised for its worst one-day performance in more than 17 years, after it forecast a drop of up to 12 percent in earnings per share in fiscal 2017. The day's decline wiped more than $20 billion off the retailer's market value, and the stock was among the biggest drags on the Dow and S&P 500.

Rival Target was down 4.2 percent at $75.63, and Sears fell 3.5 percent to $24.28. The S&P 500 retail index dropped 1.4 percent.   Continuación...